Skype buying mobile video firm Qik

JohnLetzing

SAN FRANCISCO (MarketWatch) -- Skype Ltd. said Thursday it has agreed to acquire mobile phone video start-up Qik Inc. Terms were not disclosed. Skype, which provides an Internet calling service, said in a statement that Redwood City, Calif.-based Qik, which was founded in 2006, has 60 employees and an office in Moscow. The company said it expects the transaction to close in Jan. 2011. The deal will add video "recording, sharing and storing capabilities to Skype's product portfolio," Skype said. Skype filed for an initial public offering of shares in August of last year.

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